CESC to invest Rs 10,000 crore to set up a 2000 mw power plant

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Kolkata, Jul 30 (UNI) Private power utility CESC Ltd of the RPG group has planned to invest Rs 10,000 crore to set up a 2000 mega watt power plant in Bihar, vice-chairman Sanjeev Goenka today said.

'' We signed an MoU with the Bihar Government last week to set up the plant and identified 400 acre of land, required for the project.

We have applied for coal linkage from Rajmahal fields and we will source the water from the Ganga, ten km from the project site, '' Mr Goenka told reporters on the sidelines of the company's 30th annual general meeting.

The project would be funded by a mix of debt and equity and the plant would be commissioned in two phases, Mr Goenka said.

During the first quarter ended June 2008, CESC reported about 15 per cent increase in its net profit at Rs 94 crore from of Rs 82 crore recorded during the corresponding quarter of the previous year.

The total income of the company during the quarter under review increased to Rs 842 crore from Rs 750 crore.

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